Migdal Insurance & Financial Holdings Ltd. Buys 1,860,000 Shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Teva Pharmaceutical Industries Limited (NYSE:TEVA) by 6.9% in the fourth quarter, HoldingsChannel reports. The fund owned 28,919,540 shares of the company’s stock after acquiring an additional 1,860,000 shares during the period. Teva Pharmaceutical Industries makes up 6.1% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 2nd largest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in Teva Pharmaceutical Industries were worth $301,920,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Teva Pharmaceutical Industries by 184,642.3% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 27,711,340 shares of the company’s stock worth $282,656,000 after purchasing an additional 27,696,340 shares during the period. Sound Shore Management Inc CT acquired a new stake in Teva Pharmaceutical Industries in the third quarter valued at about $80,791,000. State Street Corp boosted its stake in Teva Pharmaceutical Industries by 29.4% in the first quarter. State Street Corp now owns 19,564,828 shares of the company’s stock valued at $172,988,000 after buying an additional 4,441,883 shares in the last quarter. Exor Capital LLP boosted its stake in Teva Pharmaceutical Industries by 30.3% in the fourth quarter. Exor Capital LLP now owns 15,008,389 shares of the company’s stock valued at $93,903,000 after buying an additional 3,486,202 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Teva Pharmaceutical Industries by 3,553.8% in the third quarter. FMR LLC now owns 2,564,339 shares of the company’s stock worth $26,156,000 after acquiring an additional 2,494,156 shares during the period. Institutional investors and hedge funds own 54.05% of the company’s stock.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, CAO Amir Weiss sold 31,766 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $12.37, for a total value of $392,945.42. Following the transaction, the chief accounting officer now directly owns 10,676 shares in the company, valued at approximately $132,062.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amir Weiss sold 31,766 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $12.37, for a total transaction of $392,945.42. Following the transaction, the chief accounting officer now directly owns 10,676 shares in the company, valued at approximately $132,062.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Drape sold 173,261 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $13.05, for a total value of $2,261,056.05. Following the sale, the vice president now owns 1 shares of the company’s stock, valued at $13.05. The disclosure for this sale can be found here. Insiders have sold 390,738 shares of company stock worth $5,132,766 in the last ninety days. 0.62% of the stock is currently owned by insiders.

Teva Pharmaceutical Industries Stock Performance

Shares of NYSE TEVA traded up $0.03 during trading on Wednesday, reaching $13.12. 3,801,477 shares of the stock traded hands, compared to its average volume of 10,667,263. Teva Pharmaceutical Industries Limited has a 52-week low of $7.09 and a 52-week high of $14.47. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.02 and a quick ratio of 0.69. The company has a 50-day moving average of $13.45 and a 200-day moving average of $11.21. The stock has a market capitalization of $14.71 billion, a P/E ratio of -27.85, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.25. Teva Pharmaceutical Industries had a positive return on equity of 34.90% and a negative net margin of 3.33%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $3.97 billion. Analysts forecast that Teva Pharmaceutical Industries Limited will post 2.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler raised Teva Pharmaceutical Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $12.00 to $19.00 in a research note on Monday, February 12th. Barclays lifted their price objective on Teva Pharmaceutical Industries from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, February 5th. Jefferies Financial Group raised Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $14.00 in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. raised Teva Pharmaceutical Industries from an “underweight” rating to a “neutral” rating and set a $14.00 price objective on the stock in a research note on Friday, March 8th. Finally, The Goldman Sachs Group lifted their target price on Teva Pharmaceutical Industries from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.78.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.